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From Sola Ojo, Abuja
Former Anambra State Governor and 2023 Labour Party presidential candidate Peter Obi has called for urgent investment in small and medium-sized enterprises (SMEs), describing them as the backbone of economic growth and poverty reduction in Nigeria.
Obi made the call on X, on Tuesday, September 9, after visiting the factory of Maison de Helen (MDH), a Nigerian luxury fashion brand founded in 1990 by designer Helen Unuane.
The company, now co-managed with her daughter, Elsie Unuane, employs over 50 young Nigerians directly and indirectly through its use of indigenous fabrics such as the Akwete textile to produce globally competitive fashion pieces.
Citing global statistics, Obi said the textile and apparel industry is valued at $1.7 trillion and employs more than 300 million people worldwide.
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He contrasted Nigeria’s underperforming textile sector with countries like Bangladesh, where textiles account for over 70 per cent of exports, generating around $50 billion annually, surpassing Nigeria’s oil earnings.
“SMEs are the real engine of growth for any nation.
“What I saw at MDH is proof that with the right investment and support, Nigerian enterprises can compete globally, create jobs, and drive exports,” Obi said.
He lamented the collapse of Nigeria’s textile industry, which he said currently contributes little to the economy, but insisted that replicating success stories like MDH across thousands of SMEs could lift millions out of poverty and reposition Nigeria as a hub of creativity and trade.
